Data theft is no laughing matter, though most organizations see it that way. Data theft incidents not only result in lost revenue, but loss of productivity and give rise to a new set of issues.
Online PR News – 18-July-2012 – 17 July'2012 Beaverton,Oregon – Beaverton—July, 17, 2012— A New study conducted by Market Watch exposed that data loss can have a major blow on an organization’s bottom line. At present, organizations that became victim to data breaches in 2012 reported an average loss of .6%. Furthermore, experts predict that by 2014 this number will easily jump to .93%. To get an idea of how significant these numbers are, experts say a one billion dollar company can expect to lose about $17 million dollars in 2014. Data theft specialists envisage that unless organizations can guarantee the protection of their confidential data in the future, the trend is only expected to rise. Future numbers reveal a shocking rise in these numbers; a conservative estimate reveals that organizations can expect a loss of 1.6% in lost revenue in 2018 which is equivalent of $33 million for a $1 billion dollar company. According to Jonathan Ladd, senior security analyst for New Softwares, IT experts are scrambling to come up with data leak solutions, though IT experts are fighting a losing battle. The issue is that, no matter what innovative data security technology IT experts invent, hackers are always there to prove them wrong as e-criminals are more motivated than IT professionals. Though, New Softwares - makers of Folder Protect which is data protection software, has specifically been engineered to prevent data leaks. Recently, Folder Protect has been updated for enhanced user-friendliness, the changes include: drag and drop feature for superior user-friendliness, and improved security features which has been restructured to fight the most advanced methods of stealing data. Finally, Ladd points out, organizations don’t give data privacy much thought, as a result, those organizations are the first to feel the full blow of data breaches.
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